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Facts
The assessee did not file an income tax return for AY 2013-14, and the case was reopened under Section 148 after it was found that the assessee had deposited a total of Rs. 34,01,000/- in bank accounts. The Assessing Officer completed the assessment ex-parte under Section 144, making additions for unexplained cash deposits under Section 69A read with Section 115BBE and for income from other sources, which were subsequently confirmed by the CIT(A).
Held
The Tribunal, considering additional evidences filed by the assessee and in the interest of justice, decided to restore the entire issue to the file of the Ld. CIT(A)/NFAC. The CIT(A) is directed to provide the assessee with a final opportunity to substantiate its case and then decide the matter afresh in accordance with Section 250(6) of the Act.
Key Issues
Whether the additions made by the Assessing Officer for unexplained cash deposits and interest income were justified, and whether the assessee should be allowed a further opportunity to submit additional evidence before the CIT(A) for a fresh decision.
Sections Cited
148, 142(1), 144, 69A, 115BBE, 250(6)
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Income Tax Appellate Tribunal, PUNE BENCH “SMC”, PUNE
Before: SHRI MANISH BORAD
आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to:
1. 1. अपीलार्थी / The Appellant; प्रत्यर्थी / The Respondent 2.